Payfazz
Lt 6, Menara Prima, Jl. DR. Ide Anak Agung Gde Agung, Jakarta, Jakarta Raya, 12950, Indonesia
Overview
PT Payfazz Teknologi Nusantara ( PAYFAZZ ) is a financial technology development company. The technology developed by PAYFAZZ is an agency-based financial platform that is a payment solution for Indonesians, especially people who still do not have bank accounts or unbanked . PAYFAZZ ensures that the technology developed is guaranteed security because it has been using the security system in the form of GeoTrust SSL , User ID and Password . PAYFAZZ is committed to providing the best financial services technology by working with leading Indonesian partners from Banks, Providers of PPOB, E-commerce , Sales Agents and Alliances, and Financial Institutions. The details of their partners can be seen more fully through the services and products they provide. The company wants to partake in this digital shift by facilitating easier accessibility to bill payments, loans, money transfer, savings accounts, and investment services through smartphones to elevate Indonesia’s financial standing across Southeast Asia.
- Total investments
- 1
- Lead investments
- 1
- Investments · 12mo
- 0
- Active investors
- 6
Sector focus
- Banking
- Financial Services
- FinTech
- Mobile
- Payments
Investment portfolio
- Xfers
Led · Equity · Mar 2021
Xfers builds API-driven payments infrastructure that allows merchants to accept bank transfers, e-wallet balances and cash payments collected by agent networks. Launched six years ago, the company has expanded from a single bank-transfer API to a full suite that also covers fund disbursement tools and a cryptocurrency wallet. Its rails already give clients access to more than 10 million under-banked consumers in Indonesia through partnerships with agent banking services such as Payfazz. In 2020 Xfers secured a Major Payment Institution licence for e-money issuance from the Monetary Authority of Singapore. Looking ahead, the firm plans to release a zero-integration payment solution for Singapore merchants and a single-integration product that unifies payment methods across Southeast Asia. Geographic expansion into Thailand, the Philippines, Malaysia and Vietnam is also on the roadmap. Financially, Xfers has just received a US$30 million strategic investment from Indonesian fintech Payfazz and had previously raised a US$2.5 million round to support its early growth.